If Australia's population were to reach 40 million, it could only result from either a drastic reversal of the decline in the fertility rate or a very large increase in the rate of net migration. This lecture explores this interesting question.

Interest rate based tests and savings-investment correlations disagree on the extent of capital mobility in Pacific Rim economies. The apparent success of several East Asian countries in sterilizing capital inflows has also fueled the controversy. This paper argues that previous studies...